BERLIN— Beiersdorf AG met all of its financial targets for 2012, said company chief executive officer Stefan F. Heidenreich during the firm’s annual general meeting in Hamburg Thursday. He added that the maker of Nivea, Eucerin and La Prairie was only at the start of a longer journey to compete against global consumer giants.
As reported, Beiersdorf registered a 9.9 percent uptick in 2012 after-tax profits excluding special factors to 477 million euros, or $613.23 million at average exchange. Group sales in the period rose 7.2 percent to 6.04 billion euros, or $7.77 billion, a record for Beiersdorf. Its consumer division revenues rose 7.5 percent to 5.05 billion euros, or $6.49 billion, while on a like-for-like basis, the branch’s sales increased 4.9 percent.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"